Spdr Bloomberg 0-3 Year Euro Corporate ETF Forecast

Spdr Bloomberg 0-3 Year Euro Corporate ETF downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on Jun 17, 2024)

SEUC.L Signals & Forecast

The Spdr Bloomberg 0-3 Year Euro Corporate ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 29.81€ and 29.75€. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -0.0335%. Further fall is indicated until a new bottom pivot has been found. Spdr Bloomberg 0-3 Year Euro Corporate gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. The ETF had a Golden Star Signal on Wednesday, September 20, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for Spdr Bloomberg 0-3 Year Euro Corporate ETF

Spdr Bloomberg 0-3 Year Euro Corporate finds support from accumulated volume at 29.67€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved 0€ between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.0120%.

Our recommended stop-loss: 28.58€ (-4.15%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 7 days ago.)

Trading Expectations (SEUC.L) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Spdr Bloomberg 0-3 Year Euro Corporate Bond Ucits Etf to open at 29.82€, and during the day (based on 14 day Average True Range), to move between 29.80€ and 29.84€, which gives a possible trading interval of +/-0.0195€ (+/-0.07%) up or down from last closing price. If Spdr Bloomberg 0-3 Year Euro Corporate Bond Ucits Etf takes out the full calculated possible swing range there will be an estimated 0.13% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 29.83€ (0.02%) than the support at 29.67€ (0.50%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Spdr Bloomberg 0-3 Year Euro Corporate Bond Ucits Etf ETF A Buy?

Spdr Bloomberg 0-3 Year Euro Corporate holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Spdr Bloomberg 0-3 Year Euro Corporate Bond Ucits Etf of Tuesday, June 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.